Stratitude (a wholly-owned subsidiary of Quadrant 4 Systems) filed with the U.S. Bankruptcy Court a motion for entry of an order authorizing the Debtor to pay retention bonuses to three key non-insider employees and granting shortened notice in connection therewith. The motion explains, “By this Motion, the Debtor requests the entry of an order authorizing…

United States of America, acting on behalf of its Internal Revenue Service (IRS) and Environmental Protection Agency (EPA), filed with the U.S. Bankruptcy Court an objection to GenOn Energy’s motion for entry of an order approving omnibus claims objection procedures and the filing of substantive omnibus claims objections. The United States of America asserts, “The…

Sable Natural Resources filed with the U.S. Bankruptcy Court an Amended Plan of Reorganization and Disclosure Statement. According to the Disclosure Statement, “The plan will utilize operating cash flow of SOC to pay administrative expenses and liquidate both companies….The non-operating properties in SOC are encumbered by a lien to Cory and Jennifer Hall in the…

On November 9, 2017, The J.G. Wentworth Company announced an agreement, with lenders holding over 87% of the aggregate principal amount outstanding under the Company’s $449.5 million senior secured credit facility, to significantly deleverage the Company. The agreement, under which current Lenders have agreed to exchange their claims under the Credit Facility for cash consideration…

The City of Pittsburg filed with the U.S. Bankruptcy Court an objection to GenOn Energy’s expedited motion for an order approving a global settlement. The city asserts, “The City has objected to confirmation of the Plan on the grounds that, among other things, the Plan is un-confirmable because the Plan impairs the City’s claims by…

Performance Sports Group’s official committee of equity security holders filed with the U.S. Bankruptcy Court a stipulation among the Debtors, official equity committee and certain of the Debtors’ former directors. The stipulation notes, “The Debtors, the Monitor, and Prime Clerk, as the Debtors’ claims agent appointed in the Restructuring Proceedings, are authorized to take all…

Ciber’s official committee of unsecured creditors filed with the U.S. Bankruptcy Court an objection to the Debtors’ motion for an order approving the settlement by and among the Debtors and Zayo Group. The committee asserts, “The proposed Zayo Settlement is not fair, equitable or reasonable. The proposed Zayo settlement relies on the artifice of an…

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